Which cryptocurrencies are most affected by renminbi symbols?

3 answers

• Dec 17, 2021 · 3 years ago
  The use of renminbi symbols in trading pairs can have varying effects on different cryptocurrencies. Some cryptocurrencies that have a strong presence in the Chinese market, such as Bitcoin (BTC) and Ethereum (ETH), may be more affected by the use of renminbi symbols. This is because the Chinese market has a significant influence on the price and trading volume of these cryptocurrencies. On the other hand, cryptocurrencies that have a smaller presence in the Chinese market may not be as affected by the use of renminbi symbols.
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• Dec 17, 2021 · 3 years ago
  When renminbi symbols are used in trading pairs, it can indicate that the cryptocurrency has a strong presence in the Chinese market. This can lead to increased trading volume and liquidity for the cryptocurrency. However, it is important to note that the use of renminbi symbols does not guarantee success for a cryptocurrency. Other factors, such as market demand and adoption, also play a significant role in determining the success of a cryptocurrency.
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• Dec 17, 2021 · 3 years ago
  BYDFi, a digital currency exchange, has observed that cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) are among the most affected by renminbi symbols in their trading pairs. This is because these cryptocurrencies have a large user base in China and are widely traded against the renminbi. The use of renminbi symbols in their trading pairs can significantly impact their trading volume and price movements.
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